Prime Minister Pham Minh Chinh attended the signing ceremony of a credit contract worth 1.8 billion USD for the component project 3 of the Long Thanh international airport investment and construction project's Phase I invested by the Airports Corporation of Vietnam (ACV) in Hanoi on June 1.

The credit comprises 1 billion USD from the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), 450 billion USD from the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), and 350 million USD from the Bank for Investment and Development of Vietnam (BIDV).

The airport, with a total capacity of 100 million passengers and 5 million tonnes of cargo a year, has a total investment of 336.63 trillion VND (13.71 billion USD). It will be able to handle 25 million passengers and 1.2 million tonnes of goods a year after its first phase is completed in 2026.

Addressing the event, PM Chinh stressed the Long Thanh international airport project is significant to the socio-economic development of the southern key economic region, Vietnam’s aviation sector and the whole country’s development in the coming years.

He hailed the effort of the three commercial banks along with the coordination of the State Bank of Vietnam in quickly arranging a huge credit for the project, thus ensuring the project's progress./.

RoK firm plans to expand operations in Vietnam

LS Eco Energy, the Vietnamese subsidiary of the Republic of Korea’s LS Cable & System, is planning to build submarine cable plants in Vietnam and Europe to capitalise on the soaring demand for extra-high-voltage submarine cables.

The company held a "Value Up Day" on May 30 where it unveiled its medium- and long-term growth strategy.

In the newly released strategy, it plans to enhance efforts regarding its submarine cable and rare-earth magnet business for its continuous growth. It also looks to raise sales by 2.5 times by 2030.

LS Eco Energy manufactures extra-high-voltage cables. The facility in Vietnam is the first overseas production base of LS Cable & System and has become the leading cable company in Vietnam. More than 30% of its revenue comes from the exports to North America and Europe.

LS Eco Energy plans to complete selecting investment locations for the submarine cable plants in Vietnam and Europe this year and start construction soon.

In Vietnam, a production site is set to be established under the partnership with the Petrovietnam Technical Services Corporation (PTSC)./.

Ca Mau envisions largest shrimp industry hub of Vietnam

The southernmost province of Ca Mau recently approved a plan to develop the shrimp industry for 2021 - 2030, with a vision to 2050, aiming to turn the local sector into the largest in the Mekong Delta and Vietnam as a whole.

The provincial People’s Committee said that in this plan, suitable production models applying advanced technology will be promoted to improve productivity, output, and quality, helping enhance shrimp products’ competitiveness, adapt to climate change, and protect the environment to benefit farmers, businesses, and the economy.

Ca Mau eyes 1.4 billion USD in shrimp exports by 2025, about 1.65 billion USD by 2030, and 6 billion USD by 2050.

An estimated 20 trillion VND (over 785 million USD) is needed for developing the industry by 2030.

The plan also includes detailed criteria for selecting zones suitable for each form of farming to sustainably develop the shrimp industry.

Besides, Ca Mau devised a plan to enhance the aquatic processing capacity by boosting modern technology application with the aim of raising the volume of processed products to 176,000 tonnes by 2030.

In particular, it is set to restructure aquatic products to raise the proportion of those with added value to 75 - 80% and reduce the share of semi-processed ones to less than 20 - 25%.

The province will maintain traditional markets and explore new and potential ones. It targets that by 2030, shipments to the EU will account for some 17% of its aquatic export turnover, Japan 20%, the US 20%, and China and other markets 43%.

Data from the Vietnam Fisheries Society show that shrimp has been a staple of the country’s fisheries sector as well as agriculture for many years. Each year, it generates nearly 4 billion USD in overseas shipments and contributes to about 45 - 50% of total aquatic exports.

Vietnam is currently one of the four biggest shrimp producers in the world, together with Ecuador, India, and Indonesia. Ca Mau boasts the largest shrimp farming area – about 280,000ha compared to its total aquaculture area of 303,000ha, and an estimated output of 243,000 tonnes./.

Canadian companies interested in Vietnam’s digital health market

The Canada - Vietnam Chamber of Commerce recently held a conference in Montreal city to introduce medical researches and the medical technology companies planning to access the Vietnamese market.

Lawyer Nguyen Trung Hieu, Managing Director of Med Novum, said there are opportunities and demand for digital health in Canada and Vietnam.

He noted that the North American country possesses science and technology but faces difficulties in terms of production cost. Its businesses need a destination for their new medical technologies and equipment, and Vietnam is a good choice, especially when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which both countries are parties, already came into force.

Besides, Vietnam is amending the regulations on the health sector to facilitate the development of highly interactive digital health, Hieu said, adding its digital health market has attracted many domestic and foreign companies since the Vietnamese Government made commitments on promoting digital health.

Nam Hoang, CEO of the Canada - Vietnam Chamber of Commerce, said the chamber has a number of big partners, and it’s now good time for connecting the two countries, particularly after the opening of an Export Development Canada office in Vietnam.

Digital health is one of the sectors growing strongly in both countries. The conference, which was attended by many influential representatives of Canada in the fields of health care, education and technology, aimed to seek ways for them to access Vietnam’s digital health market in the time ahead, he said.

The Canada - Vietnam Chamber of Commerce, gathering many large Canadian businesses planning to expand operations to Vietnam, has made substantial contributions to bilateral trade, which surpassed 10.3 billion USD in 2023./.

VinFast signs agreements with first dealers in Philippines

Vietnamese EV maker VinFast on May 31 announced the signing of cooperation agreements with the first four Philippine dealers, paving the way for a strong retail network and solidly establishing the company's presence in the Southeast Asian country's electric vehicle market.

At the company's brand launch event held in Manila, VinFast officially signed cooperation contracts with the four dealers - EV Solutions, K1 Prestige Bay Motors Inc, and Autoflare Corporation, all headquartered in Manila; and MNV Auto Group Inc., headquartered in Iloilo city. The first VinFast showrooms are expected to open in Manila at the end of June 2024.

The dealers will start selling the VF 5, VF e34, VF 7, and VF 9 models as soon as they are launched in the market. The first cars are expected to be delivered to Philippine customers in the third quarter of this year.

VinFast is considering the introduction of the popular Vietnamese mini e-SUV and the VF 3 to the Philippine market. Additionally, the company is researching the potential for electric motorbikes and electric bicycles. To address the varying needs of Filipino consumers, VinFast will offer both car purchases with batteries and a unique battery subscription policy. This subscription option aims to lower the initial cost of electric vehicles, making them more accessible to Filipino consumers.

Furthermore, VinFast sets itself apart with a market-leading after-sales policy in the Philippines. This includes a 7-10 year warranty on vehicles. For those who choose the battery subscription policy, VinFast will offer a free battery replacement and maintenance programme if the battery capacity falls below 70%. This comprehensive plan provides peace of mind for Filipino customers throughout their ownership journey.

To accelerate the Philippine market entry, VinFast plans to open dozens of dealerships across the country in 2024. These stores will be strategically located on major roads in Manila and other key cities, catering to the Philippines' growing middle class and the increasing demand for electric vehicles.

The Philippines becomes the third Southeast Asian market VinFast has entered in the first half of 2024, following Indonesia and Thailand. This rapid expansion strengthens VinFast's position in the region and demonstrates the company's ability to quickly accelerate its presence.

In 2024, VinFast is making a strong push into international markets, including the US, Canada, Europe, as well as Asian countries like India, Indonesia, and Thailand. The company is also exploring the Middle East and African regions./.

PM demands gathering resources for 500kV transmission line project

Prime Minister Pham Minh Chinh on June 1 demanded mobilising local resources for ensuring logistics and enhancing support for the construction of the Circuit-3 500kV power transmission line.

His dispatch was sent to the secretaries of the Parties committees and the chairpersons of the People’s Committees of the provinces of Quang Binh, Ha Tinh, Nghe An and Thanh Hoa in the central region, along with Ninh Binh, Nam Dinh, Thai Binh, Hai Duong, and Hung Yen in the north. It was also sent to the First Secretary of the Ho Chi Minh Communist Youth Union Central Committee, as well as the chairpersons and general directors of the Vietnam Electricity (EVN) group and the National Power Transmission Corporation (EVNNPT).

According to the dispatch, the Circuit-3 500kV power transmission line from Quang Trach of Quang Binh to Pho Noi of Hung Yen is one of the nationally important projects as it is critical to guaranteeing national energy security, helping improve the transmission capacity of the national power system, and ensuring power supply for the northern region during the peak period of 2024 and beyond.

To ensure the project is completed before June 30, the EVN and EVNNPT has deployed nearly 10,000 personnel working around the clock in the nine provinces this line traverses.

To further accelerate progress and better ensure workers’ living and working conditions, PM Chinh demanded the provinces’ Party and administration leaders direct local authorities and related agencies to mobilise available resources, give maximum support, and create all necessary conditions for investors, contractors, construction units to ensure the best logistics, living, and moving conditions for the personnel.

The secretaries of provincial Party committees and the Youth Union Central Committee need to order local youth union chapters to work closely with investors and construction units to marshal local young people for helping with construction.

Besides, the EVN and EVNNPT have to direct their forces to carry out the project in scientific and effective manner, frequently conduct examination and supervision to ensure progress and quality, coordinate with local administrations and police to guarantee security and safety, while ensuring labour safety and environmental hygiene, the Government leader requested./.

Ha Nam province eyes to attract investors from Czech Republic

A delegation from the northern province of Ha Nam led by Secretary of the provincial Party Committee and Chairwoman of the provincial People’s Council Le Thi Thuy paid a working visit to the Czech Republic on May 30-31.

At the working session with the Vietnamese Embassy, Thuy briefly introduced the province’s potential, advantages and preferential incentives for investors.

Thuy said that Ha Nam has continued to build open policies and mechanisms, synchronous and modern infrastructure, and ensure services and human resources to meet the requirements of investors.

In 2023, Ha Nam ranked 9th out of 63 provinces and cities in Vietnam in the Provincial Green Index (PGI), which demonstrated its attention to environmental protection and sustainable development.

The province is home to12 industrial parks covering a total area of 3,474 ha, eight of which were put into operation. Ha Nam also has 14 industrial clusters with a total area of nearly 400 ha and. It will soon submit to the Prime Minister a proposal on the establishment of Ha Nam High-Tech Park covering 660 ha, which priorities attracting investment in artificial intelligence (AI), electronics - semiconductors, automation, biotechnology and medicine, and new material technology.

Earlier, on May 30, the delegation had a working session with the Union of Vietnamese People Associations in Europe, Vietnamese associations and businesses in the Czech Republic.

At the meeting, Hoang Dinh Thang, Chairman of the Union of Vietnamese People Associations in Europe, informed the delegation about the activities of the Vietnamese associations, while representatives of the Vietnamese community briefed on business activities in the Czech Republic and their demand for investment in Vietnam.

Many Vietnamese businessmen in the Czech Republic highly appreciated the investment environment in Ha Nam province./.

Ninh Thuan, India’s Kerala state eyes to boost tourism cooperation

The People's Committee of the south central province of Ninh Thuan on June 1 coordinated with the Indian Consulate General in Ho Chi Minh City to organise a meeting to connect tourism businesses in Ninh Thuan and India’s Kerala state.

Seventy delegates representing authorities, tourism businesses and media of the two sides attended the meeting, during which they exchanged information about the potential, and tourism products of Kerala state and Ninh Thuan province.

Founder of India’s WebCRSTravel Company Neelkanth Pararath, who is head of the Indian tourism business delegation, assessed that Ninh Thuan is a beautiful land with a lot of tourism potential, adding that there are more opportunities for cooperation between the two sides as direct flights from India to Vietnamese localities have been launched.

He raised tourism products and business activities as two aspects Indian tourists are interested in Vietnam and Ninh Thuan in particular.

He said tourism businesses need to provide good accommodation facilities and diverse experiential activities, especially dishes suitable to Indian traditions, while information about destinations should be in English and Indian.

Vice Chairman of the Ninh Thuan People’s Committee Nguyen Long Bien said that to promote cooperation between Ninh Thuan and Kerala state in the coming time, the Indian Consulate General, tourism businessesand Ninh Thuan agencies need further connections and create favourable conditions for Indian investors to learn about and invest in Ninh Thuan.

The province will continue improve its investment climate, mobilse resources to develop tourism infrastructure, boost tourism promotional activities, preserve cultural values and raise the quality of human resources training.

At the meeting, India's WebCRSTravel and Ninh Thuan provincial Tourism Association and Hoan My Resort signed a Memorandum of Understanding (MoU) on their cooperation, paving the way for tourism development opportunities for tourism businesses and the two localities.

In the 2014 – 2023 period, eight non-governmental projects worth 1.87 million USD sponsored by the Indian Embassy in Vietnam were implemented in Ninh Thuan.

Besides, he province carried out activities to promote its tourism in the Indian market together with cultural exchange activities./.

Ba Ria-Vung Tau, Dong Nai – magnet for foreign investors in southeastern region

Ba Ria-Vung Tau and Dong Nai provinces have become magnets for foreign direct investment (FDI) in the southeastern region.

According to the Vietnam Foreign Investment Agency under the Ministry of Planning and Investment, Ba Ria-Vung Tau province topped the country in FDI attraction with newly registered FDI of more than 1.52 billion USD in the first four months of this year, accounting for 16.4% of the country's total FDI capital, more than 12 times higher than the same period last year.

The provincial Party Committee Secretary Pham Viet Thanh highlighted local advantages, saying that the province has a particularly important strategic position, and is a gateway to the East Sea of the southeast region and the whole country, along with favourable natural conditions, hospitable people, and a quality workforce.

Under its development master plan by 2030, Ba Ria - Vung Tau will have 24 industrial parks with an area of 16,052 ha. In addition to 13 operating industrial parks, the Long Son Oil and Gas Industrial Park has been granted an investment registration certificate while two industrial parks are undergoing investment procedures, and seven others have been added to the planning.

Matsumoto Nobuyuki, chief representative of the Japan External Trade Organization (JETRO) in Ho Chi Minh City, said that Ba Ria-Vung Tau is one of the localities that JETRO has advised businesses to invest in.

According to him, the province habours advantages such as Cai Mep Thi Vai port, Long Thanh international airport which is under construction, oil and gas resources and LNG warehouses, plus a stable electricity supply source.

It is next to Dong Nai and Binh Duong - two localities with factories ensuring sufficient supply for production.

Meanwhile, Dong Nai province has been considered a "magnet" to attract investors, especially global leading companies and corporations for many years, as a series of transportation infrastructure projects have been invested and will be put into operation in the next few years such as Long Thanh international airport, Bien Hoa - Vung Tau expressway, and Ho Chi Minh City Ring Road 3.

According to Director of the provincial Department of Planning and Investment Nguyen Huu Nguyen, Dong Nai is focusing on developing high-tech industry, trade, and logistics.

It offers incentives and support policies for investors in the fields of supporting industries, high technology, and others.

Besides, Dong Nai is paying attention to environmental issues and high-quality workforce.

Chairman of the Ba Ria - Vung Tau provincial People's Committee Nguyen Van Tho said apart from promoting its advantages, the province pays attention to addressing bottlenecks in the mechanism, reviewing and simplifying administrative procedures so as to create favourable conditions for businesses.

Ba Ria - Vung Tau strives to develop an economic axis linked to Cai Mep - Thi Vai seaport, the inter-port transportation system and National Highway 51.

Moreover, the Bien Hoa - Vung Tau expressway and Ho Chi Minh City Ring Road 4 will form a dynamic economic axis of industry – logistics.

The province also strives to develop large-scale industrial-service-urban complexes in the new city of Phu My.

In addition to two industrial parks in Vung Tau city and Dat Do district, the provinve's entire area for industrial park development will be located in Phu My and Chau Duc districts.

Industrial parks in this driving force axis attract selective investment in industries with high and advanced technology such as electricity - electronics, robot production, integrated automatic operation and remote control equipment, Internet of Things (IoT), artificial intelligence, production of means of transport, pharmaceuticals, and biological products.

Secretary of the Dong Nai provincial Party Committee Nguyen Hong Linh said that entering a new stage of development, the province requires FDI enterprises to use modern technology and apply digital transformation.

The province targets to be one of the country's important growth poles by 2050, leading the nation in developing high-value industries, with focus on green economy and circular economy to reach the goal of carbon neutrality by 2050.Up to 65 countries and territories have registered to invest in Binh Duong.

To seize new opportunities, especially after Vietnam upgraded its partnership with a series of large economies such as the US, Japan, the Republic of Korea, China, and Australia, Binh Duong province has been proactive to come those countries to call for investment./.

Bac Giang’s efforts to mobilise resources for economic development pay off

The northern province of Bac Giang has reaped numerous achievements in socioeconomic development thanks to efforts in diversifying methods of mobilising resources, including attracting foreign direct investment (FDI), according to the provincial Party Committee.

The committee said that after five years implementing the Politburo’s Resolution 39-NQ/TW on enhancing the efficiency of economic resources management, exploitation, use and promotion, Bac Giang has seen fruitful results.

In the 2019-2023 period, Bac Giang lured 273 new FDI projects worth 7.9 billion USD, accounting for 69% of the total investment capital the locality has attracted so far.

As of the end of 2023, Bac Giang’s population had reached about 1.92 million, 31,800 people higher than the figure recorded in 2022, becoming the 11th most populous locality in the country.

Of the total, nearly 1.1 million people, or 60% of the population, are in working age. The number of labourers working in the non-state economic sector accounts for 73.7%, while that in the foreign investment sector makes up 19.6%.

Last year, the rate of trained workforce in Bac Giang reached 76%. Bac Giang is in the "golden population" period, with favourable conditions in human resources.

In addition, the group of under 14 years old accounts for a high proportion, which is a good condition to ensure human resources for the province in the coming planning period.

Currently, about 60,000 local labourers are working in industrial parks, and about 10,000 others in businesses outside industrial parks.

Bac Giang has 389,589 hectares of natural areas, including 301,627 hectares of farming land, accounting for 77.4%, 84,570 hectares of non-farming areas, while the remaining area has to be exploited.

The abundant land stock has enabled Bac Giang to boost the development of agro-forestry-fisheries sectors as well as industrial parks and clusters, urban areas, services, and tourism.

Over the years, credit institutions in Bac Giang have applied many solutions to support local businesses, cooperatives, and business households to promote socioeconomic recovery and development.

Credit capital has been driven to production and business sectors, priority areas, thus shifting the credit structure towards economic development.

By 2023, outstanding credit debt in the province reached 91.7 trillion.According to Standing Vice Chairman of the Bac Giang People’s Committee Giang Mai Son said that in the first quarter of 2024, the province’s gross regional domestic product (GRDP) expansion reached 14.18%, leading all localities across the country.

This year, the province aims for 14.5% in GRDP growth, and per capita income of 4,500 USD. State budget revenue of the locality this year is expected to hit 16.06 trillion VND, while social investment capital is hoped to reach 103.58 trillion VND.

In the rest of the year, Bac Giang will continue to focus on removing obstacles hindering local growth, while promoting development, said Son.

The province will improve its business environment to enhance the quality of investment attraction and create favourable conditions for the growth of all economic sectors, and speed up administrative reform and digital transformation, he added./.

Green productivity brings benefits to enterprises: expert

In the context of rapid urbanisation and industrialisation, the application of green productivity brings benefits to businesses, said Nguyen Tung Lam, Deputy Director of the Vietnam Productivity Institute under the Directorate for Standards, Metrology and Quality.

The application helps minimise waste in production and business activities, save production costs, thus creating environmentally friendly products and services, and developing responsible businesses, he explained.

Since 1998, the Vietnam Productivity Centre (now the Vietnam Productivity Institute) has carried out a pilot green productivity programme through projects sponsored by the Asian Productivity Organisation (APO).

The programme's highlight is the implementation of community-based green productivity models in 20 provinces and cities across the country, mainly in the agricultural and service sectors.

It makes locals and businesses clear about the concept of green productivity as well as approach and use of tools to analyse and assess matters in order to give priority.

Vietnam implemented groups of solutions and tools in community instead of in the manufacturing enterprise sector as usual, Lam said, adding that the successful application in community is highly appreciated by the APO and its members.

Through the programme, people's quality of life and environmental conditions have been significantly improved thanks to the implementation of a series of green productivity solutions such as applying biogas technology and building centralised water supply stations to ensure clean water supply for locals, and the application of integrated pest management (IPM) techniques to reduce the amount of pesticides and chemical fertilisers.

The green productivity programme also affirms its advantage in both environmental protection and community development solutions such as mushroom growing, worm raising, or energy-saving kitchen models.

Besides, the application of green productivity has brought practical benefits to many businesses.

For examples, green productivity solutions have helped the Hiep Thanh Paper JSC reduce the average amount of input paper waste by 4%, and save energy monthly.

Thanks to green productivity, the Hung Hau Fruit and Vegetable Co. Ltd has reduced water and electricity consumption by 15%, cut waste treatment costs by up to 10%, and reduced workers' time in each stage by 16.67%.

However, experts assess that meeting green productivity criteria in the business sector is still limited.

According to Associate Professor, Dr. Vu Hoang Nam, head of the Scientific Management Department at Foreign Trade University, green productivity models have been applied in many projects and businesses, but mainly in large-sized ones.

Meanwhile, the majority of enterprises in Vietnam are small and medium sized.

Therefore, it is necessary to boost communications on green productivity in businesses.

In Vietnam, legal criteria on green productivity have been built into management systems, such as ISO 14000 environmental management system, ISO 50001 energy management system, solutions for green supply chain management, Global Agricultural Practices model, tools in statistics and quality management 5S and 3R.

Associate Professor, Dr. Phan Chi Anh, Director of the Centre for Business Administration Studies under the University of Economics and Business - Vietnam National University, Hanoi, said that it is time to make green productivity mandatory.Regarding this issue, in Decision No. 1322/QD-TTg dated August 31, 2020 approving the national programme to support businesses in improving productivity and quality of products and goods in the 2021-2030 period, the Prime Minister asked for research and implementation of green productivity solutions, and at the same time support for enterprises to apply green productivity.

As the results, the application of green productivity is drastically promoted in the business sector, creating motivations for this sector to increasingly participate in the green productivity programme./.

PM orders traditional growth drivers be renewed, new ones promoted

Prime Minister Phạm Minh Chính stressed on Saturday the need to focus on revitalising traditional growth drivers while vigorously promoting new ones

He made the request while chairing a Government meeting that reviewed the socio-economic situation in May and the first five months of 2024 and discussed the focal tasks for June and beyond.

The PM perceived that the socio-economic situation in May continued the positive trend and reaped better results than the previous month. The five-month situation was also better than the same period last year in most areas.

Growth was boosted in all three sectors of industry, agriculture, and services. The macro-economy stayed stable, inflation under control, and major balances ensured.

During January - May, the consumer price index (CPI) increased 4.03 per cent year on year. The State budget revenue was equivalent to 52.8 per cent of this year’s target and rose 14.8 per cent from a year earlier. Foreign trade value grew 16.6 per cent, with US$8.01 billion in trade surplus. Total foreign direct investment (FDI) topped $11 billion, up 2 per cent.

Meanwhile, tourism continued recovering strongly as seen in the number of international arrivals surging 64.9 per cent, statistics show.

Many international organisations have released optimistic predictions of Việt Nam’s economic growth in 2024, he noted.

Besides, cultural and social aspects, institutional building, the fight against corruption and negative phenomena, national defence, security, and external relations have been fostered. The quality of people’s lives has been improved. Việt Nam’s prestige and stature in the world have also increased further, according to PM Chính.

However, he noted, there remain shortcomings, problems, difficulties, and challenges such as the high pressure on inflation and exchange rates, hard credit access in the real estate market, slow policy response in some places, along with complicated food poisoning, fire, and crime situation.

Mentioning some main tasks for the coming time, the Government leader demanded continuing the proactive, flexible, timely, and effective monetary policy that is coordinated harmoniously and strongly with a reasonably expanded and focus-driven fiscal policy.

Ministries, sectors, and localities must work harder to facilitate enterprises and people’s access to credit to achieve credit growth of about 5 per cent for the first half and 15 per cent for the entire year. Lending interest rates should be cut by another 1 - 2 per cent. In particular, the State Bank of Vietnam (SBV) and the Ministry of Construction have to immediately take concrete measures to step up the disbursement of the credit package worth VNĐ120 trillion ($4.7 billion) for social housing development.

Strong actions are required to stabilise the gold market, raise the State budget revenue and reduce spending, foster digital transformation, and continue to exempt or cut taxes, fees and charges to tackle production and business obstacles. More measures are also needed to keep markets and prices stable, especially for petrol, oil, essential goods, housing, and food, according to the PM.

Asking for traditional growth drivers to be renewed and new ones strongly promoted, he said it is necessary to accelerate public investment projects, fuel private investment, enhance public - private partnerships, selectively attract FDI, consolidate traditional markets and explore new markets, strongly stimulate domestic consumption, and facilitate e-commerce and cashless payment.

Concrete and effective mechanisms and policies are also needed to robustly boost new growth drivers, develop regional and urban economy, and bolster green transition, circular, sharing and knowledge-based economy, along with such new fields as semiconductor and artificial intelligence.

Besides, it is important to seize farm produce export opportunities, augment efforts to have the “yellow card” warning over illegal, unreported and unregulated (IUU) fishing lifted soon, ensure sufficient water for agriculture, power generation and people’s life, and better prevent forest fires, PM Chính went on.

Regarding services, he asked for strongly developing potential sectors, increasing tourism attraction, and tightening management of tourism quality and prices as the summer travel season is coming.

At the meeting, the Cabinet chief also requested ministries, sectors, agencies, and localities ensure social security and people’s life, prepare for salary reforms, strengthen national defence and security safeguarding, further combat crimes and corruption, and quickly and effectively implement the international treaties and agreements to which Việt Nam is a party. 

Việt Nam, Malaysia trade potential not tapped fully: conference

There remains much untapped potential for trade and investment between Việt Nam and Malaysia, heard a meeting held in HCM City on Friday.

Speaking at the event, Đào Minh Chánh, deputy director of the HCM City Investment and Trade Promotion Centre (ITPC), pledged to facilitate Malaysian investment in Việt Nam.

He also encouraged Vietnamese exporters to boost halal exports to Malaysia, given its majority Muslim population.

The ITPC regularly supports local businesses in trade promotion and expanding export markets.

Việt Nam and Malaysia have set a target to increase bilateral trade to $18 billion by 2025 and $25 billion by 2030.

The visit by Malaysian Prime Minister Anwar Ibrahim to Việt Nam in 2023 underlined the strategic relationship between the two nations.

Malaysia is among Việt Nam’s top 10 trading partners and has various free trade agreements.

Key Vietnamese exports to Malaysia include machinery, electronics, steel, petroleum, and chemicals.

The event was organised by the ITPC, Malaysian consulate and National Trade Promotion Agency of Malaysia. 

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes